The French wine company, Michel Laroche, reported consolidated sales of €25.24m ($26.87m) for the first nine months of the current fiscal year, a drop of 13% from €29m ($30.9m) in the corresponding nine months of the previous fiscal year. However, turnover was up by 50% in the third quarter, the company said.

Michel Laroche is expecting to post a 10% increase in net profit for the full 2002/2003 fiscal year.